Imperial Irrigation District, Calif., plans $76.78 million of electric system refunding bonds

By Sheri Kasprzak

New York, June 1 - The Imperial Irrigation District of California is set to sell $76.78 million of series 2011B electric system refunding revenue bonds, said a preliminary official statement.

The bonds (A1/AA-/A+) will be sold through senior managers Goldman, Sachs & Co. and Citigroup Global Markets Inc.

The bonds are due 2012 to 2041.

Proceeds will be used to refund the district's series A notes, which were issued to finance a portion of the El Centro Unit 3 Repower Project.

Based in Imperial, Calif., the district provides irrigation and electric power to Imperial County and portions of Riverside County.

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